Investment Markets Overview – w/e 16 Aug 2013

A UK tabloid newspaper ran a story this week of a £520,000 bequest made by a 90 year-old former nurse, Joan Edwards, who died last year. Miss Edwards instructed that her £500,000-plus legacy be paid to “whichever government is in office at the date of my death for the government in their absolute discretion to use as they may think fit”. The greedy government, of course, promptly grabbed the cash as a party donation, splitting it along the ratio of the coalition numbers, 81%/19% between the Tory and Li-Democrats, as opposed to the benefit of the Nation. Some months later, after an astute journalist exposed the story, the aforementioned political parties completed an about-face and passed on the bequest to the treasury, albeit that “Dave” is allegedly unhappy:-


The FT has now expanded on the theme, stating that 150 people have made donations since 2004, to pay down the “national debt.” Furthermore, some deluded soul left a staggering £500K way back in 1928 to, “inspire the government to move quickly on paying off the national debt.” That bequest has grown to £350m today, a 700-fold return, but the national debt is now at a staggering £1,300, 000,000,000, so would only reduce it by 0.027%. 


Subscribe to the Full Investment Markets Overview Newsletter which contains the following additional commentaries:-

  • US economic data . . .

  • Euro-Zone   . . .

  • The UK . . .

  • Out East   . . .

  • The $US index  . . .

  • Within the commodities complex  . . .

  • Economic data due next week includes  . . .

  • We’ve written often about Central Banks of late due the “mindless” attention given (by the herd)      . . .

  • Charts:-
    1. Indices Weekly
    2. US Consumer Confidence vs US Housing Starts
    3. Euro Area GDP (Q on Q) + % Output
    4. Japan GDP Q on Q vs Japan GDP Annualised
    5. Fed Agency Debt vs Liquidity vs Lending vs LT Treas Purch vs Trad Sec Holdings

Table of 15 Indices, 11 columns of detailed information, for accurate analysis

  “No man’s credit is as good as his money”

 Due to holiday commitments next week, the next week-ending will be for the 30th August 2013.

Click  HERE to view Details of the full version of this Newsletter

which includes full text and detailed Charts for each section


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